RE: New Car Sales Down Across Globe

RE: New Car Sales Down Across Globe

Tuesday 4th November 2008

New Car Sales Down Across Globe

Major falls reported on both sides of the Atlantic



New car sales in countries all over the world are continuing to fall in the midst of the economic slowdown. Four European countries released figures yesterday detailing sharp declines in new car sales figures in October.

Top of the list was Spain, suffering a drop of 40% on the same month last year. Close behind came Italy, reporting an 18.9% drop. France felt less of a sting, however a 7.3% drop is still significant and includes larger relative slumps in sales of home-grown manufacturers such as Peugeot (down 8.6%) and Renault (down 12.6%). Belgium also reported a 6.8% decrease in sales.

Meanwhile over in the US, all of the 'big 3' manufacturers are feeling the pinch. Ford reported drops of close to 35% compared with the same period last year, with GM close behind on 32% and Chrysler sales 31% down. This comes despite desperate attempts from the US auto industry to raise sales by offering tempting 0% finance packages, even in these times when credit is getting harder to come by.

UK figures for October have not yet been fully released, but are expected to follow the pattern seen in September, when new car registrations fell by 21% to a slim 330,295 units.

'Government action is now needed to restore consumer confidence and boost demand in the real economy,' said Paul Everitt, chief executive of the British Society of Motor Manufacturers and Traders. Most analysts predict that 2009 spells an even tougher year for motor manufacturers as the global economy continues to grind to a halt.

Author
Discussion

fastgerman.com

Original Poster:

1,911 posts

194 months

Tuesday 4th November 2008
quotequote all
fking bankers

vtek

14 posts

191 months

Tuesday 4th November 2008
quotequote all
fastgerman.com said:
fking bankers
lol...couldnt have put it better myself

Edited by vtek on Tuesday 4th November 12:31

Iddingtons

177 posts

216 months

Tuesday 4th November 2008
quotequote all
I'd quite happily buy a new car, if only they'd offer me a comparative trade in value for my used car against their full price new one.....peanuts for mine and book price for theirs? erm...no thanks.

Id.

RichyBoy

3,739 posts

216 months

Tuesday 4th November 2008
quotequote all
Restore confidence in what, there nothing left lol.

http://uk.youtube.com/watch?v=1nttuh8oHYw

gareth.e

2,071 posts

188 months

Tuesday 4th November 2008
quotequote all
fastgerman.com said:
fking bankers
You realise it's 9/11 that in directly caused this?

Antj

1,041 posts

199 months

Tuesday 4th November 2008
quotequote all
or are consumers suddenly realising what some of us have known for years. You're a mug buying brand new

If we are honest these headlines should have happened 3 years ago, just dealers artificaly seeding the market with their stupid pre-regs all flooding the market

Stig

11,817 posts

283 months

Tuesday 4th November 2008
quotequote all
Antj said:
or are consumers suddenly realising what some of us have known for years. You're a mug buying brand new

If we are honest these headlines should have happened 3 years ago, just dealers artificaly seeding the market with their stupid pre-regs all flooding the market
There is that, but you also have to consider that the days of 'easy credit' are long gone.

Comparing sales figures in '08 to previous years is like comparing apples with conkers.

Given that a high proportion of new car sales are financed with some form of credit, small wonder that they're in decline. The market needs to re-value itself and for once, that means that those who have cash to buy can pick up a relative 'bargain'.

Hopefully, the longer term reality will mean somewhat more affordable cars in the UK.

However, the choice is likely to be made up of lots of small/mid (read A,B and small C segment) cars all shouting about how green/economical they are to run.

Ironic that oil is now trading at $56 a barrel - same as it was 20 months ago!!!

White-Noise

4,121 posts

247 months

Tuesday 4th November 2008
quotequote all
Most new cars would surely be bought on finance, and if you buy new you are likely to make a huuuge loss. So for joe bloggs buying new is and has been a bad idea. What are we all meant to do? Take out loans, buy a new car and then wind up with nothing when its sold a couple of years later?

Maybe the government is more worried about their showroom taxes?

russellwatson17

278 posts

187 months

Tuesday 4th November 2008
quotequote all
It's kinda what we all already knew... with some figures thrown in.

jezt23

1 posts

220 months

Tuesday 4th November 2008
quotequote all
gareth.e said:
fastgerman.com said:
fking bankers
You realise it's 9/11 that in directly caused this?
What happened on the 9th of November anyway?

btom

479 posts

268 months

Tuesday 4th November 2008
quotequote all
jezt23 said:
What happened on the 9th of November anyway?
biggrin

fastgerman.com

Original Poster:

1,911 posts

194 months

Tuesday 4th November 2008
quotequote all
jezt23 said:
gareth.e said:
fastgerman.com said:
fking bankers
You realise it's 9/11 that in directly caused this?
What happened on the 9th of November anyway?
Hahaha Americans....

The investors from Sept 11 moved their cash to Dubai as far as I was aware, which seems to be doing just swimmingly. wker bankers playing Bond in their casino (which is now tax payers money) went and pissed it up the wall - tremendous...

As mentioned above, some good deals to be made if you can afford a new car outright.

gumsie

680 posts

208 months

Tuesday 4th November 2008
quotequote all
It's beautiful. I want to buy a car with a massive V8, forced induction and everything. This can only help me.

clarencegi77

100 posts

192 months

Tuesday 4th November 2008
quotequote all
btom said:
jezt23 said:
What happened on the 9th of November anyway?
biggrin
lol, security checkpoints across the Berlin wall finally allowed free transit between the east and west.. people begin it's demolition

varsas

4,004 posts

201 months

Tuesday 4th November 2008
quotequote all
They've had years of record sale...basically everyone now has a new car, this doesn't surprise me at all.

nav p

324 posts

186 months

Tuesday 4th November 2008
quotequote all
i was in retail sales for many years predicting this,in fact we all were, with manufacturers demanding more and more registrations it eas always going to end in tears!

general190

252 posts

202 months

Tuesday 4th November 2008
quotequote all
fastgerman.com said:
jezt23 said:
gareth.e said:
fastgerman.com said:
fking bankers
You realise it's 9/11 that in directly caused this?
What happened on the 9th of November anyway?
Hahaha Americans....

The investors from Sept 11 moved their cash to Dubai as far as I was aware, which seems to be doing just swimmingly. wker bankers playing Bond in their casino (which is now tax payers money) went and pissed it up the wall - tremendous...

As mentioned above, some good deals to be made if you can afford a new car outright.
I recommend everybody watches the new series of Bremner, Bird and Fortune! its all to do with the state of the current economy and all the history which has been building up to cause whats happening now. Last weeks was on the Bankers, it was brilliant, informative and showing all the history and whats been going on with a good dose of humour thrown in!

I would quite happily buy a car, not a new one though, 'nearly new' but like people have been saying the trade-in value i would get for my car just does'nt make it worth while! So i will be keeping hold of mine ta.

Maybe, if cars wernt so bloody expensive in britain (compared with most of the other countrys) we would all be more happy to be buying cars.

fastgerman.com

Original Poster:

1,911 posts

194 months

Tuesday 4th November 2008
quotequote all
general190 said:
fastgerman.com said:
jezt23 said:
gareth.e said:
fastgerman.com said:
fking bankers
You realise it's 9/11 that in directly caused this?
What happened on the 9th of November anyway?
Hahaha Americans....

The investors from Sept 11 moved their cash to Dubai as far as I was aware, which seems to be doing just swimmingly. wker bankers playing Bond in their casino (which is now tax payers money) went and pissed it up the wall - tremendous...

As mentioned above, some good deals to be made if you can afford a new car outright.
I recommend everybody watches the new series of Bremner, Bird and Fortune! its all to do with the state of the current economy and all the history which has been building up to cause whats happening now. Last weeks was on the Bankers, it was brilliant, informative and showing all the history and whats been going on with a good dose of humour thrown in!

I would quite happily buy a car, not a new one though, 'nearly new' but like people have been saying the trade-in value i would get for my car just does'nt make it worth while! So i will be keeping hold of mine ta.

Maybe, if cars wernt so bloody expensive in britain (compared with most of the other countrys) we would all be more happy to be buying cars.
Heard some good things about that programme, however unfortunately missed it myself. One thing that stops me getting upset about UK new car prices (even though I never buy new) is how much they pay in Denmark - more than double and sometimes tripple on expensive Mercs/Beamers. They think it's crazy how I could afford an M3 until I told them what I paid for it, the E46 M3 is down to £10k now, bloody bargain of the year!

bob375

30 posts

206 months

Tuesday 4th November 2008
quotequote all
fastgerman.com said:
jezt23 said:
gareth.e said:
fastgerman.com said:
fking bankers
You realise it's 9/11 that in directly caused this?
What happened on the 9th of November anyway?
Hahaha Americans....

The investors from Sept 11 moved their cash to Dubai as far as I was aware, which seems to be doing just swimmingly. wker bankers playing Bond in their casino (which is now tax payers money) went and pissed it up the wall - tremendous...

As mentioned above, some good deals to be made if you can afford a new car outright.
So its nothing to do with the greedy scum who took out loans they couldn't afford?

Boggy

4,603 posts

234 months

Tuesday 4th November 2008
quotequote all
vtek said:
fastgerman.com said:
fking bankers
lol...couldnt have put it better myself

Edited by vtek on Tuesday 4th November 12:31
Why are you sggin off Banker's?????????? Do you read the Sun Newspaper or the Star? Not everything that's printed in the press or portrayed in the media is 100% true you know!

I do not work for a Bank but even I understand that it's not down to just Banker's, I think you find the majority of problem's have been caused by lack of investment over a prolonged period of time buy in fact the very government who run this country, fun manager's short selling, problem's with American's investing their mortgages on the stock market (Sub-prime). And although I can't believe it's happened again people borrowing more than they can afford.

Here we go again with the government's borrowing money to cover spending,

Wake up!

Boggy